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Roles
Financial Advisor
  • Successfully restructured debt
  • Refinanced its ABL facility

The company was a manufacturer of fixtures for major electronics and experiential companies that experienced volatile revenue and carried excess inventory. A CR3 Partners professional was engaged to assist in negotiations with company’s lender, analyze financial results, and make recommendations. CR3 provided a practical approach to balance sheet restructuring and supported negotiations with lender, leading to a successful debt restructuring.

The Situation

  • Manufacturer of fixtures for major electronics and experiential companies
  • Company’s revenue was volatile, fluctuating by more than $100MM each year due to uncertain demand
  • Company kept excess inventory on hand in the event of large orders and incurred high overhead costs
  • Recent financial results that were below expectation led to a near term covenant breach with company’s lender

The Work

  • CR3 Partners was engaged to assist in lender negotiations and a debt restructuring
  • Engaged with senior management and private equity sponsor to analyze financial results, support lender negotiations, and make recommendations
  • Provided advisory and financial modeling support for lender negotiation
  • Provided a hands-on and practical approach to debt restructuring while managing various constituencies, including management, senior lenders, and private equity sponsor

The Results

  • Company successfully restructured its debt
  • Company refinanced its ABL facility

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